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$1,249,000
Marathon, FL 33050
MLS# 614155
6 beds | 8 baths | 7932 sqft
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Property Description
Discover an exceptional unique investment opportunity in the heart of Marathon. This sprawling 8,292-square-foot property showcases six income-generating residential 1 bed / 1 bath apartments and two 2 very tall and spacious (3,000+ sq. ft) warehouse/storage buildings (former airplane hangars) w/ half baths in each. The annual rent roll is currently $118,200 with occupancy rates consistently near 100% across many years (and without ever increasing rent rates to our loyal long-term tenants). Based on the appraisal (included in the listing), the market will support a rent roll of $153,286. The property's versatile layout presents numerous possibilities for generating rental income, with separate living spaces that can accommodate long-term tenants or short-term rentals. A distinctive feature of this property is its industrial capabilities, including warehouse space (airplane hangars), offering unique potential for both residential and commercial ventures. Perfectly positioned in the Middle Keys, this property provides easy access to local amenities including the Marathon International Airport, numerous bars and restaurants, shopping, public transportation, and the renowned Sombrero Beach area. The lack of reasonable housing in the Keys ensures that this property is always in high demand to potential renters, and we see very little turnover for our long-term tenants. This property conveys with 2 Affordable Building Rights with an option to take over 4 additional in the queue for approval. Located in a certified Opportunity Zone, there are significant tax benefits to the potential buyer. Whether you're seeking a lucrative investment property, a unique residential compound with additional warehouse/storage capabilities, or an income-generating property with the potential to create the most impressive man cave in the Keys, this versatile property delivers exceptional value in one of Florida's most desirable locations.
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Contract Information
Current Price: $1,249,000
Listing Date: 2025-03-13
Listing Board: Marathon/Lower Keys
List Price: $1,249,000
As is Rght to Inspct: Yes
Species List: No
Location Tax Legal
Street #: 212
Street Name: Lindahl
Street Suffix: Street
Key/Island: Marathon
State/Province: FL
Zip Code: 33050
County: Monroe
Subdivision: Industrial Sub (52.5)
Area: 15 - Sombrero Bch Rd to Vaca Cut Gulfside
General Property Description
Realtor.COM Type: Multi-family
Style: Multi-Units
Waterfront: No
Pool: No
Year Built: 1971
Total Units: 8
Lot SqFt: 11761
Lot Sqft Source: Property Data Card
Acres: 0.27
Living Apx SqFt: 7932
SqFt Source: Property Data Card
Total Bedrooms: 6
Full Baths: 6
Half Baths: 2
Total Baths: 8
Rentals Allowed: Yes
Status Change Info
Status: Active
Association Info
Mandatory Home Owners Asc: No
1st Right of Refusal: No
Building Style
Above Flood: Yes
Stories: 2 Stories
Vehicle Storage
Car(s): 4+
Property Features
Fee Includes: None
Tax Exemptions: None
Waterfront: None
Waterview: No Waterview
Dockage: None
Vehicle Storage: Garage; Airplane Hanger; Off Street Parking
Cooling: Wall/Window Unit(s)
Heating: Separate Meters
Utilities: FKAA; Municipal Sewer; Water Separate Meter
Appliances: Dishwasher; Disposal; Dryer; Range; Refrigerator
Construction: CBS; Concrete
Roof: Metal Roof
Pets: Pets Allowed
Land Size: 1/4 - 1/2 Acre
Appraisal 
Listing Office: Keystime Vacation Rentals
Last Updated: March - 13 - 2025
The data relating to real estate for sale on this web site comes in part from the Florida Keys MLS, Inc. Information provided is deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. The information being provided is for consumers’ personal, non-commeral use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. IDX data is deemed reliable but is not guaranteed accurate by the MLS.